Currency Conversion Service

Definition

Currency Conversion Service. A foreign exchange service involving the conversion of currency of one country or group of countries for another, typically, but not always, as a counter transaction

A currency exchange service may be provided by a stand-alone business or may be part of the services offered by a bank or other financial institution. The currency exchange profits from its services either through adjusting the exchange rate or taking a commission.

See Also

• Barron's Dictionary of Finance and Investment Terms, Ninth Edition, 2014
• http://www.investopedia.com/terms/c/currency-exchange.asp

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with or correctly interprets the concepts covered by the FIBO ontology.